1. Economics of Australia and China
Australian economy and Asian economies play a very similar role in solving the economic problem. ... There are four main types of economic systems: centrally planned economies, mixed economy, traditional economy and capitalist economy. ... The economic problem of scarcity has influenced both Australian and Chinese economies. ... Quality of life plays a role in solving the economic problem. ... Australia and China both have mixed economies; China previously adopted a centrally planned economy but slowly to a market oriented one. ...
- Word Count: 815
- Approx Pages: 3
- Grade Level: Undergraduate